Home prices in Texas are no longer as cheap as they used to be.

After looking at home prices in Austin and checking out some decent listings in Dallas, you can't help but think, "Texas isn't a cheap place anymore."

However, first-time viewers of El Paso listings often react with surprise.

"Oh? I didn't realize homes in Texas were still available at this price!"

As of the first half of 2026, the median home price in El Paso is around $215,000.

When you come down from looking at prices in Dallas or Austin, it definitely seems more manageable.

For Koreans, the idea of buying a single-family home for just over $200,000 is quite appealing.

But you shouldn't rush into a decision based solely on home prices. In the U.S., what matters more is how much you pay each month.

Let's say you put 20% down on a $215,000 home. If you put down $43,000, your mortgage would be $172,000.

If you lock in a 30-year fixed rate at around 6.75%, your monthly payment for principal and interest would be about $1,116.

At this point, it looks pretty good. The problem is Texas property taxes.

If we calculate the effective property tax rate in the El Paso area at about 2.4%, even a $215,000 home would incur property taxes of about $430 per month. Adding in homeowners insurance at around $1,900 annually, or about $158 monthly, the actual housing cost comes to about $1,704 per month.

So, if you think, "A $215,000 home will only cost me a little over a thousand a month," you're mistaken. In Texas, you always need to consider property taxes and insurance along with the mortgage.

Using the guideline that monthly housing costs should be about 28% of your income, the required monthly income would be around $6,085, which translates to an annual income of about $73,000. Considering the median household income in El Paso is around $55,000, you can't say that home prices are entirely cheap.

However, compared to other major Texas cities, the story changes.

In San Antonio, for instance, the median home price is about $280,000, and as you move up to Dallas or Austin, the burden of home prices increases significantly.

Compared to those areas, El Paso is a city where an average dual-income family can realistically consider homeownership.

Especially for Korean families where both spouses earn a combined income of around $75,000 to $80,000, there are quite a few options available. For those starting out in self-employment or small business, it is definitely less burdensome than cities where you need to look at homes priced at $400,000 to $500,000.

However, you shouldn't approach El Paso with the assumption that it's always cheap. Being a border city, the condition of homes, school districts, and living environments can vary significantly, making the choice of neighborhood very important.

And one thing that Koreans often overlook when first looking at homes in El Paso is the property tax.

When you see the number $215,000 on a listing site, it can be comforting. But when you actually input property taxes and insurance into a mortgage calculator, the monthly payment exceeds $1,700.

Still, considering the current home prices in major Texas cities, El Paso seems to offer some hope.

Rather than saying home prices are cheap, it might be more accurate to say that it's a city where you can still realistically plan for homeownership with an average income.